So many farmers are putting themselves, spouses and family members on payroll so they can contribute to a 401K or IRA. This is being done for a variety of reasons, tax advantages, retirement preparations and to avoid putting all their eggs in one basket.
Most do this because it’s the only option they know of. Farming Without the Bank gives you another option. You are able to use this system in the same way, it’s called and Executive Bonus Plan
What It Gives You:
- Ability to diversify your money.
- The USE of that money for farming/ranching without penalty
- Ability to use that same account for retirement money in a tax free way.